2023-09-28 14:46:10 +00:00
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abstract: 'In an endogenous growth model with two engines of R\&D and capital, we
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investigate the environment of ``inclusive growth{''''} for tax
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reallocations (tax increases or tax credits) to gain broader benefits in
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terms of promoting the overall GDP growth without an increase in income
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inequality. Our results show that a tax increase in the capital-good
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sector can result in inclusive growth, boosting overall growth and
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reducing income inequality, provided that the status quo tax rate is not
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too high. Surprisingly, tax credits are not able to achieve such
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inclusive growth. While the GDP growth rises, a tax credit in the R\&D
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sector not only increases income inequality but also decreases the
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aggregate employment, if the labor mobility cost between the final-good
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and R\&D/capital-good sectors is relatively low. This provides a caution
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to policymakers given the fact that research tax credits have served as
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a common incentive to strengthen the R\&D environment.'
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affiliation: 'Wang, WN (Corresponding Author), Natl Taichung Univ Sci \& Technol,
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Dept Int Business, Taichung, Taiwan.
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Wang, Wei-Neng, Natl Taichung Univ Sci \& Technol, Dept Int Business, Taichung,
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Taiwan.
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Liu, Chia-Ying, Aletheia Univ, Dept Econ, Taipei, Taiwan.
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Chang, Juin-Jen, Acad Sinica, Inst Econ, Taipei, Taiwan.'
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author: Wang, Wei-Neng and Liu, Chia-Ying and Chang, Juin-Jen
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author-email: wei7656@gmail.com
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author_list:
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- family: Wang
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given: Wei-Neng
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- family: Liu
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given: Chia-Ying
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- family: Chang
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given: Juin-Jen
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da: '2023-09-28'
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doi: 10.1002/soej.12473
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earlyaccessdate: NOV 2020
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eissn: 2325-8012
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files: []
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issn: 0038-4038
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journal: SOUTHERN ECONOMIC JOURNAL
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keywords: inclusive growth; tax policy; two engines of growth; wage differential
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keywords-plus: 'MONETARY-POLICY; ENDOGENOUS GROWTH; TECHNOLOGY; TAXATION; MODEL;
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INNOVATION; SUBSIDIES; ENGINES; RUN'
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language: English
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month: JAN
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number: '3'
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number-of-cited-references: '44'
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pages: 979-1009
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papis_id: b4f246403575614be1d00afbb4cf4f56
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ref: Wang2021taxpolicy
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researcherid-numbers: Chang, Juin-Jen/ABD-9235-2022
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times-cited: '1'
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title: Tax policy implications for a two-engine growing economy
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000590155100001
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usage-count-last-180-days: '0'
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usage-count-since-2013: '5'
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volume: '87'
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web-of-science-categories: Economics
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year: '2021'
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